Tuesday, November 4, 2008

We were promised change

The Democrats gave the Republicans a thorough ass kicking. I am writing this as the election is still going on. It is 9:30 Eastern time so the polls have not closed in many states. However, it seems that Obama won Ohio which gives him the Electoral College unless there is a total upset. At the same time, they won a minimum 4 Senate seats with another 2-5 possible. The House will witness the same type of results.

What does this all tell us? Simple. America wants a change. I agree 100% with them. Where I differ is in that many believe it is coming. Let me be the first to tell everyone: real change will not come. Sure, there will be legislature passed which will move this country further to the left. Nevertheless, in terms of change, there is nothing.

The government is now a giant piggy bank. Those who believe something is coming to them are foolish. I saw a poll that said 70% of the people believe their taxes are not going down under Obama (the number was 54% for McCain). Thus, the majority believed that both candidates were lying when they promised tax cuts. Yet they still had to vote for someone.

Here is my projection: we will see more of the same bull crap that we witnessed for the last few decades. The tax increases on the rich is a fallacy. I was talking with a friend of mine who is an Obama supporter who also happens to be rather wealthy. He retired at 50 with an investment account of well over $1,000,000 cash. Even with the destruction of the markets, he still has enough money to live on for another 4 years without a single dime of income coming in.

So, why did he support Obama? His tax liability in 2007 was less than 3%. This is a person that Obama promised to raise taxes on. Is my friend patriotic like Joe Biden mentioned for wanting to pay more taxes? Not exactly. The reason he voted for Obama is because he knows damn well that his taxes are not going up. All the wealthy know this.

It might be helpful for me to tell you what my friend's career was: he was an accountant. He made a lot of money reducing the tax liability for his wealthy clients. He did it so well that he became one of them.

So where does this leave us? The proverbial middle class is stuck holding the bill again. People like my friend are not going to see a tax increase. We all know the bottom rung are not going to pay more taxes; hell they pay none as it is. Thus, the middle class is going to have to pay for the huge spending that Pelosi and Reid are going to push through Congress.

By the way, we were going to see much the same thing with a McCain victory. This truly is a time where the voters are damned if they do and if they don't. The Federal government is now Santa Claus. Our political leadership is offering handouts at a record pace. We are about to see the largest increase in the debt. It sits now at $11 trillion. By the time Obama leaves office, it will be around $20 Trillion.

It is simple economics: there needs to be a huge increase in revenues to make up for the mamoth expenditures which will be implemented. Without that, there must be big deficits or the Fed will need to print massive amounts of money. Of course, this devalues the money out there.

So what really changed? When you get past the fluff and surface garbage, you realize nothing. The American people will get screwed over the next four years by the elitists in Washington. Obama is not the one who will move the country towards socialism. Rather, it is the voters who are asking for all the handouts. In reality, the politicians are only giving the people what they want.

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